Salary Calculator
How the Calculator Works
This calculator helps you understand your take-home pay after tax, National Insurance, and pension contributions. It takes into account:
- Your base salary, bonus, and stock income
- Income tax rates and bands
- National Insurance contributions
- Pension contributions (employee and employer)
- Student loan repayments
- Additional allowances and reliefs
Enter your details below to see a detailed breakdown of your salary and deductions.
Additional Income
Tax Allowances
Pension
Key Calculations Explained
Income Tax
Income tax is calculated based on your taxable income after deductions:
- Personal Allowance: £12,570 (2024/25)
- Basic Rate (20%): £12,571 - £50,270
- Higher Rate (40%): £50,271 - £125,140
- Additional Rate (45%): Over £125,140
National Insurance
National Insurance contributions are calculated as:
- 10% on earnings between £12,570 and £50,270
- 2% on earnings above £50,270
Pension Contributions
Pension contributions can be made through:
- Salary sacrifice (tax-efficient)
- Net pay arrangement
- Relief at source
Important Considerations
Tax Year
This calculator uses the 2024/25 tax year rates and thresholds. Tax rates and thresholds may change in future tax years.
Regional Variations
Different tax rates apply in Scotland and Wales. The calculator allows you to select your tax region to get accurate calculations.
Additional Allowances
The calculator includes options for Marriage Allowance and Blind Person's Allowance, which can reduce your tax liability.
Disclaimer: This calculator provides estimates only and should not be considered financial advice. The calculations are based on the information you provide and current tax year rates and thresholds. Tax rules, including rates, bands, and allowances, may change in future years. The calculator does not account for all possible tax deductions, reliefs, or benefits you may be entitled to. Regional variations in tax rates (Scotland and Wales) are based on current rates and may change. Please consult with a qualified tax advisor or accountant for personalized advice regarding your tax position.